Pacific Crest Downgrades Nanometrics (NANO) to Sector Weight
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Pacific Crest downgraded Nanometrics (NASDAQ: NANO) from Overweight to Sector Weight and removed its price target. Analyst Weston Twigg recommended reducing positions in semiconductor equipment.
"We anticipate order declines and limited demand growth for semiconductor equipment names as 3D NAND equipment demand is likely to peak in 2017, while logic/foundry demand remains mixed and DRAM demand remains low. Sector valuations are reasonable, so we do not see meaningful near-term downside risk, but further stock appreciation may be limited. We are lowering our ratings for LRCX and NANO to Sector Weight, and we remain Overweight on AMAT, MKSI and ENTG for longer-term opportunities," said Twigg.
Shares of Nanometrics closed at $21.39 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Cowen Downgrades Under Armour, Inc. (UA) to Market Perform
- RBC Capital Raises Price Target on Akamai Technologies (AKAM) to $67 Following Solid 3Q
- RBC Capital Cuts Price Target on Pentair (PNR) to $66 Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesPacific Crest Securities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!